OCTOBER | VOLUME 03, ISSUE 8
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On September 23, 2003, TransCanada announced increased ownership in Portland Natural Gas Transmission System (PNGTS) by 10.13 per cent to 43.42 per cent. This increase in interest is achieved by acquiring a portion of DTE East Coast Pipelines Company's interest for about US$47.1 million, including assumed debt of approximately $27.8 million. This transaction is expected to close in about a month.
Portland operates a 471-kilometre, 220 million cubic feet per day interstate natural gas pipeline that connects with the Trans-Québec & Maritimes Pipeline near East Hereford, Quebec and has delivery points in Maine, New Hampshire and Massachusetts, including the Boston area.

"The move is a strategic fit for TransCanada," says Jim McPherson, Director of Sales and Marketing for Gas Transmission East. "One of our main objectives is to attract volumes on our Mainline System by serving the needs of customers in the growing Northeast market. The Portland pipeline is essentially an extension of our Mainline System to serve the Boston market."

For more information on Portland Natural Gas, please see our recent news release.

 
>> OPEN SEASON: A SUCCESS
>> INTEREST IN PNGTS
>> NORTH BAY ALTERNATIVE
>> THE ALBERTA CBB
>> NrG DOVETAIL RESULTS
>> AT IGUA IN NOVEMBER
>> SUPPLY/DEMAND OUTLOOK
>> METER STATION PROCESS
 
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DATE: October 3, 2003